Democrats want to take over IRAs and 401k's

Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs "This is the confiscation.
"First take away the advantage of 401(k)'s and IRA's.
"Create a new and mandatory retirement system.
"Swoop in and take over the failing 401k and IRA fund managers to save the individual accounts and put them under government administration."

Huge See, I Told You So from 2008: Democrats Try To Take Your 401(k)  "The unions are behind this. You might say, "Why? Why are the unions pushing this?" Very simple. The average union pension plan right now is only 62% funded -- and that's way below the point at which the government considers a pension plan endangered. So there are estimates that suggest unions' multiemployer pension plans are underfunded by $165 billion and could be on the verge of collapse, because all the money the union guys think is stashed away for them has been spent. The Reverend Jackson years ago talked raiding pension accounts for "social justice." The union leaders see these retirement security ideas like GRAs as vehicles as a back-door pension bailout:"  Rush Limbaugh Background links included.

Should Government Take Over Your 401(k)? Prophecy from 2008   "Reports have surfaced in recent days over House Democrat attempts to make significant changes to 401(k) plans in our country. They first want to remove the tax break we currently receive by contributing funds to a 401(k) plan. Then, they wish to enroll everyone into a government run retirement plan where you would be required to put away 5% of your income to earn a 3% return. Let’s look at why this is likely to happen.
"First, there are two reasons why I think that this is going to happen (assuming Obama is elected President)."